(Alliance News) - The Mib on Thursday trades bullish by crossing the 34,000 mark, in line with other European markets, driven by optimism about potential interest rate cuts by the Federal Reserve following weak U.S. data.

Traders are preparing for UK parliamentary elections, the results of which are expected overnight, with the Labour Party widely expected to win.

In economic news, German factory orders unexpectedly fell once again, underscoring the persistent difficulties of Europe's largest manufacturing sector.

Thus, the FTSE Mib trades in the green by 0.5 percent at 34,029.16, the Mid-Cap advances 0.3 percent to 47,674.67, the Small-Cap is in the red at 29,111.79, while Italy Growth is in the green by 0.2 percent at 8,087.45.

In Europe, Paris' CAC 40 is up 0.7 percent as is London's FTSE100, while Frankfurt's DAX 40 is in the green by 0.3 percent.

Back in Milan, on the Mib, FinecoBank -- up 2.4 percent -- reported Thursday that net inflows in June amounted to EUR997 million -- compared to EUR764 million in the same month of 2023 -- thus surpassing the EUR5 billion threshold in the first half of the year for the fourth consecutive year. The managed component amounted to EUR424 million, with Fineco Asset Management's retail inflows at EUR215 million and largely offsetting outflows from insurance of EUR84 million.

Strength also on Campari by 2.2%, on the heels of eve's 1.2% gain.

Boost also on Leonardo, which after closing bullish by 1.7% advances 1.3%. The company announced Wednesday that it has signed a Memorandum of Understanding with Rheinmetall for the creation of a new 50-50 joint venture aimed at developing a European-wide industrial and technological approach in the field of defense systems

land.

Good buys on DiaSorin, which has been moving in the high quarters since the bell rang, marking a 1.3 percent gain and heading for its fourth bullish session.

Unipol - in the green by 0.8 percent - informed Consob that it has signed a share swap contract that has 4.77 percent of BPER's capital as its underlying. The insurance company thus rises to 24.62 percent of the Emilian bank. In essence, this is a derivative with a long position to February 2028 that will reward Unipol should the Emilian bank's shares appreciate.

Among the few bearish performers was Saipem's red, which gave up 1.5 percent, in the wake of the 2.8 percent bearish candle on the eve of the day.

On the cadet list, Salvatore Ferragamo takes the top spot with a 3.5% rise. On the stock sim mentions that Goldman Sachs upgraded its recommendation on the stock to 'neutral' from 'sell,' albeit cutting the target price to EUR9.10 from EUR10.00.

Juventus FC rising 2.2 percent, in its fifth bullish session.

Danieli&C, on the other hand, advances 2.0%, after a flat session on the eve, with price in the EUR36.40 per share area.

On the other side of the list, Caltagirone is giving up 1.4%, on its third sessioine with a bearish candle.

Enav, on the other hand, is marking minus 1.3%, reversing course after three bullish sessions.

On the Small-Cap, Elica is advancing 8.1 percent to EUR1.79 per share, following a 0.6 percent red on the eve of the session.

Banca Profilo is up 1.9 percent after "commenting" Wednesday in the evening on rumors published by some press outlets regarding the sale of Arepo BP Spa's stake held in Banca Profilo's share capital. Arepo BP, the bank's controlling shareholder and parent company of the Banca Profilo group, confirmed that "an exclusive negotiation is currently underway, the outcome of which will be promptly communicated to the market when all prerequisites are met," the statement said.

Beewize, on the other hand, advances 5.9 percent to EUR0.72 per share, after eve's negative balance of 2.9 percent.

Among the bearers, numerous on the list, Softlab is giving up 2.4 percent, after eve's gain of 2.5 percent.

Among PMIs, Clabo is advancing 4.0%, reversing course after three sessions closed with a bearish candle.

SolidWorld Group--green by 0.5 percent--announced Thursday that Dubai-based subsidiary SolidWorld Middle East DMCC has secured a EUR800,000 order to supply two 3D design and printing systems in industrial and textile environments for a major UAE government agency in October

Edil San Felice is down 0.9 percent after closing up 7.8 percent in the eve. The company on Wednesday reported that it was awarded a EUR145.1 million contract in RTI with SACS Srl, Operazione Srl and CMO Srl. Edil San Felice's share is EUR13.6 million.

Circle, on the other hand, gives up 1.7 percent after announcing Thursday that it has entered into an agreement with a Mediterranean port to use Port Community Services offered by the group. The value of the contract is more than EUR700,000 and will run for about 18 months, expandable to an additional EUR1.0 million for a total value of EUR1.7 million and a period of up to 24 months.

In Asia, the Nikkei rallied 0.8 percent, the Hang Seng rallied 0.3 percent, and the Shanghai Composite closed 0.8 percent in the red.

In New York-where markets will be closed for Independence Day-the Dow in Wednesday's half-session closed 0.1 percent in the red, the S&P gained 0.5 percent, while the Nasdaq closed 0.9 percent in the green.

Among currencies, the euro changed hands at USD1.0798 from USD1.0800 on Wednesday in European equities closing while the pound was worth USD1.2753 from USD1.2662 on Wednesday evening.

Among commodities, Brent crude is trading at USD86.80 per barrel from USD86.22 per barrel at yesterday's close. Gold, on the other hand, trades at USD2,357.20 an ounce from USD2,360.80 on Wednesday evening.

On Thursday's macroeconomic calendar, at 1330 CEST, the ECB will release the minutes of its latest monetary policy meeting while at 2230 CEST it will be the turn of the Federal Reserve's weekly balance sheet.

On the corporate calendar, no events are scheduled.

By Maurizio Carta, Alliance News reporter

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